Green Growth Brands Inc. Announces $102M Backstop Commitment From Key Stakeholders

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COLUMBUS, OH , Aug. 14, 2019 /CNW/ – Green Growth Brands Inc. (GGB.CN) (GGBXF) (the “Company” or “GGB”) announced today that it has entered into backstop commitment letters with each of All Js Greenspace LLC, Park Lane Capital Limited, and Chiron Ventures Inc. (collectively, the “Investors”), pursuant to which the Investors have committed to subscribe for and purchase, in certain circumstances, up to $102,796,241 in the aggregate (approximately US$77 million ) of convertible debentures (the “Convertible Debentures”) of the Company to support the Company’s operations and capital needs (the “Commitment Letters”).

Pursuant to the terms of the Commitment Letters, the Company is entitled to require each of the Investors to fulfill their respective commitments for a period of 12 months (the “Term”) following completion of the Company’s previously announced C$50,225,000 prospectus offering of units (the “Offering”) as follows: (i) as to up to US$52,325,000 (in the aggregate), in the event that the Company’s existing secured convertible debt cannot be extended or refinanced prior to the maturity date thereof and (ii) as to up to US$25,000,000 (in

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